CH earns P140M from biz permit renewal-A A +A
Wednesday, January 26, 2011
MANDAUE City collected P142 million from the renewal of business taxes as of Jan. 24, with P15 million in collectibles from business permit applicants on queue when the deadline was up.
Assistant City Treasurer Regal Oliva is optimistic they will reach the P170-million
target before the end of the first quarter.
He said around 15 percent of the total number of business owners have a compromise agreement with the City that they will pay in installments, either quarterly or semi-annually.
In fact, Oliva hopes they will be able to collect double the target before the end of the year.
City Information Technology consultant Queru-bin Momongan said more than 1,000 applicants are waiting to get their business permits.
At the end of office hours last Monday, Oliva said 7,167 business establishments renewed their business permits, paying a total of P142,006,150.98.
He said many missed the deadline (Jan. 21) because of the long line, but they were able to comply with the requirements. So after paying the corresponding taxes, they will just return to get their receipts, he said.
On top of these “deadline beaters,” there are the “big taxpayers,” who have reached a compromise with the City to pay their business taxes in installments.
Published in the Sun.Star Cebu newspaper on January 26, 2011.